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New COVID variant Omicron triggers global alarm, market sell-off

The discovery of a new coronavirus variant named Omicron triggered global alarm on Friday as countries rushed to suspend travel from southern Africa and stock markets on both sides of the Atlantic suf...

Argentina squeezes foreign travel to protect its dollars

BUENOS AIRES, Argentina (AP) — Argentina's government launched measures on Friday to discourage foreign travel as a way to protect the country's thin dollar reserves ahead of heavy debt payments. ...

IMF deal with Pakistan would revive $6 billion bailout

ISLAMABAD (AP) — The International Monetary Fund said Monday that weeks of talks with Pakistan have produced a preliminary agreement toward reviving a $6 billion economic bailout for the Islamic natio...

Afghan banking system on brink of collapse, UN warns

The Afghan financial system is staring at a collapse within months as it reels from a worsening cash liquidity crunch and a spike in bad loans, a new report by the United Nations Development Programme...

US Congress members reintroduce bill to back Taiwan membership of IMF

TAIPEI (Taiwan News) — United States Representatives Anthony Gonzalez and Al Green reintroduced the “Taiwan Non-Discrimination Act of 2021” to require the administration to back Taiw...

UN envoy: Afghanistan on brink of `humanitarian catastrophe'

UNITED NATIONS (AP) — Afghanistan is “on the brink of a humanitarian catastrophe” and its collapsing economy is heightening the risk of extremism, the U.N.’s special representative for the country war...

Desperate Afghans forced to sell children

An already ailing economy that has been hard hit by a prolonged drought and with the Taliban at the helm, Afghanistan's future is looking bleak. The Taliban, which is still struggling for interna...

Pakistan: Rampant inflation piles on the pressure

Abid Hussain, 40, a factory worker in Faisalabad city, says he is planning to send his two children to an Islamic madrassa as he cannot afford to pay their fee for a private school. The madrassa offer...

Argentina's opposition scores win in midterm elections

BUENOS AIRES, Argentina (AP) — President Alberto Fernández suffered a severe setback in Argentina's midterm elections held Sunday amid widespread anger over high inflation and rising poverty, with his...

Afghanistan: Can the Taliban avert a food crisis without foreign aid?

More than half the population of Afghanistan will face high levels of "acute food insecurity" from November to March, according to a recent report from the United Nation's Food and Agric...

Lebanon's PM says preliminary talks with IMF moving forward

BEIRUT (AP) — Lebanon’s prime minister said Monday that preliminary talks with the International Monetary Fund are moving forward as the small nation works to pull itself out of one of the world's wor...

Afghanistan: People struggle to make ends meet amid economic turmoil

Since the Taliban seized power in Afghanistan in mid-August, the conflict-stricken nation has been dealing not only with political turmoil but also a severe economic crisis and increasing poverty. ...

Climate inaction costlier than net zero transition: Reuters poll

BENGALURU, Oct 25 (Reuters) - Hitting the Paris Agreement goal of net-zero carbon emissions will require investments in a green transition worth 2%-3% of world output each year until 2050, far less th...

APEC finance ministers agree to step up vaccine efforts

Oct 22 (Reuters) - Finance ministers from Asia-Pacific trade group APEC met on Friday and agreed to step up efforts to expand COVID-19 vaccine manufacture and supply, and support global vaccine sharin...

Pakistanis suffer under inflation amid IMF negotiations

Pakistani finance officials were in Washington this week trying to close a deal with the International Monetary Fund (IMF) to release a suspended $1 billion tranche from a bailout package, which Islam...